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Empowering Malaysia’s future: FWD Insurance and BSN’s Camp Millionaire champions financial literacy

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Nationwide initiative culminates in a transformative financial education camp, equipping primary school students with essential financial management skills and fostering a financially inclusive Malaysia.

KUALA LUMPUR, Malaysia, Dec. 31, 2024 /PRNewswire/ — FWD Insurance Berhad (“FWD Insurance”) and Bank Simpanan Nasional (“BSN”) have reached a significant milestone in their transformative mission to enhance financial literacy among Malaysia’s youth. Launched on 6 December, the Camp Millionaire programme culminated in a grand finale on 7 December, marking the successful conclusion of the first phase of this nationwide initiative aimed at empowering primary school students with essential financial knowledge and skills.

Camp Millionaire, an advanced financial education camp developed by Little Tauke, brought together 100 participants, selected as top achievers from their respective schools. The programme offered an immersive experience to deepen their understanding of financial management, empowering them to apply their knowledge practically and become ambassadors of financial literacy within their communities.

FWD Insurance and BSN collaborated with Little Tauke, the financial education experts to deliver the “Know Your Money” programme which has already empowered over 1,000 students across 20 schools nationwide, reaching both urban and rural communities.

This initiative underscores FWD Insurance’s unwavering commitment to financial inclusion, aligning with Bank Negara Malaysia’s (BNM) mandate to enhance financial literacy across the nation. By leveraging BSN’s strong school networks and Little Tauke’s educational expertise, the programme imparts crucial financial knowledge to primary school students aged 10 to 12, laying a robust foundation for their future financial well-being.

“FWD is dedicated to empowering individuals with the knowledge and tools they need to thrive and celebrate living,” said Mak See Sen, Chief Executive Officer of FWD Insurance. “This partnership with BSN and Little Tauke exemplifies our forward-thinking approach, where financial literacy is not just a skill but a gateway to a brighter future. Our collaboration with BSN has significantly accelerated our efforts to promote financial literacy among Malaysian youth, building strong momentum towards a financially inclusive future.”

“Financial literacy goes beyond merely learning how to accumulate wealth. It encompasses the ability to make informed decisions about spending, saving, investing, and managing debt. These are essential life skills that have a profound and long-lasting impact on an individual’s financial well-being. By instilling these skills at a young age, we empower the youth to navigate the complexities of the financial world with confidence and responsibility,” he added.

Jay Khairil, Chief Executive of BSN, highlighted the broader impact of this collaboration: “At BSN, our mission is deeply rooted in empowering the rakyat and fostering financial inclusion. We believe that financial literacy is a cornerstone of sustainable development, and that no Malaysian should be left behind in this journey. Through initiatives like Camp Millionaire and the broader Know Your Money programme, we are cultivating a generation equipped with the knowledge and skills to navigate their financial future with confidence. This collaboration reflects our commitment to building a more resilient and inclusive Malaysia, where everyone has the opportunity to thrive.”

The collaboration between FWD Insurance and BSN goes beyond conventional business partnerships, focusing on delivering tangible benefits to Malaysian society. By empowering the next generation with the skills and knowledge to navigate an increasingly complex financial landscape, this partnership underscores a steadfast commitment to building a financially literate and inclusive Malaysia. Through initiatives like Camp Millionaire, FWD Insurance and BSN reaffirm their dedication to shaping a brighter, more resilient future for all Malaysians.

About FWD Insurance Berhad

FWD Insurance Berhad is part of FWD Group, a pan-Asian health and life insurance business with over 12 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. The company was established in 2013 and focused on changing the way people feel about insurance. FWD’s customer-led and digitally enabled approach aims to deliver innovative propositions, easy-to-understand products, and a simpler insurance experience.

About Bank Simpanan Nasional (BSN)

Since its establishment in 1974, Bank Simpanan Nasional (BSN) has been continuously driving positive change in the lives of Malaysians. Guided by its vision of “No Malaysian Left Behind,” BSN offers inclusive and innovative financial solutions to ensure broad access to financial opportunities for all segments of society.

As a key financial institution in the country, BSN is dedicated to fulfilling its mission to enhance financial literacy among Malaysians and build a brighter financial future. With an extensive network, BSN provides a wide range of comprehensive products and services, including savings, financial management, micro and personal financing, as well as Islamic and conventional credit cards.

BSN currently operates more than 387 branches, 40 Micro Finance Centers, 578 Automated Teller Machines (ATMs), 259 Cash Recycling Machines (CRMs), 10 Mobile Bank Branches (CBB), and over 2,282 BSN Bank Agents (EB BSN) nationwide, including in rural and remote areas. With over 9 million customers, BSN continues to lead in financial inclusivity, supporting the country’s economic development agenda.

As of October 2024, BSN manages retail deposits totalling RM21.5 billion, reflecting the trust and confidence of the public in its services. Through a combination of digital technology and a personal touch, BSN continues to bring banking services to every corner of the country, making finance more accessible to everyone.

For more information, visit www.bsn.com.my.

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SOURCE FWD Insurance Berhad

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IPLOOK Networks 2024 Recap: Driving Innovation and Building Partnerships in Telecom

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HONG KONG, Jan. 3, 2025 /PRNewswire/ — As 2024 comes to a close, it’s a great time to look back at the exceptional year for IPLOOK Networks — a global leader in end-to-end mobile core network solutions. Driven by its mission to foster innovation and connectivity across the telecom industry, IPLOOK has empowered network operators worldwide with cutting-edge technology and strategic partnerships.

At MWC 2024, IPLOOK showcased its core network solutions under the theme “Future First,” drawing large crowds to its stand. This event highlighted the company’s leadership in the industry and amplified its influence through key alliances with major telecom companies. It also emphasized IPLOOK’s capability to integrate space, air, and ground communications. The feedback received from attendees provided valuable insights that will guide the evolution of its products in the years ahead.

IPLOOK’s participation in the 2024 MVNOs World Congress in Brussels reaffirmed its commitment to strengthening the MVNO ecosystem. The conference spotlighted the market’s impressive growth potential, with an 8% compound annual growth rate (CAGR), projected to reach $130 billion by 2030. IPLOOK’s adaptable core network solutions resonated with light MVNOs seeking to expand into full-service offerings. Success stories shared by current clients further underscored the company’s dedication to customer success and innovation.

At PT EXPO Beijing 2024, IPLOOK’s booth captured attention with its representation of reliable connectivity, from the ground up. Its hyper-converged virtualization cloud platform proved the company’s expertise in delivering scalable, secure solutions. VP Wang Zhen emphasized the pivotal role of communications technology in driving social change and committed to boosting R&D investments.

The IPLOOK Global Partner Summit 2024 ignited important conversations on network slicing and private 5G networks, while AfricaCom 2024 provided an opportunity to discuss how 5G can advance digital inclusion and unlock economic growth in Africa.

2024 has been a testament to IPLOOK’s relentless drive for progress, innovation, and global partnerships. As 2025 approaches, the company is eager to continue pushing boundaries and exploring new heights.

Follow IPLOOK on LinkedIn @IPLOOK Networks

CONTACT: 
info@iplook.com 
sales@iplook.com

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Hinen to Showcase Advanced Energy Storage Technology at Powerelec Nigeria 2025

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LAGOS, Nigeria, Jan. 3, 2025 /PRNewswire/ — Under the spotlight of the West African and global power energy industry, the Powerelec Nigeria 2025 exhibition will be held from January 13-15, 2025, at the Eko Atlantic City Landmark Centre in Lagos. As a leading expert in residential energy storage solutions, Hinen will present its latest development, the Hinen A Series RESS (Residential Energy Storage System), at booth number 1B18. This product integrates multiple advanced technologies, providing users with the most reliable power protection while injecting new vitality into the West African power market.

Forward-Looking Energy Storage Solutions

In recent years, Nigeria’s national power grid has faced worsening conditions, with frequent nationwide blackouts and partial power outages significantly impacting residents’ quality of life and business operations. In response to this challenging situation, the Hinen A Series RESS stands out for its superior technical performance. It can switch between grid-tied and off-grid modes within ≤10 milliseconds during a power failure, much faster than the market average. Moreover, when the grid recovers, it achieves true 0ms seamless switching, ensuring continuous and stable power supply. This not only minimizes economic losses due to unstable grids but also enhances the safety and reliability of electricity use for households and businesses.

Technical Advantages

Seamless Grid-to-Off-Grid Switching: Utilizing Virtual Synchronous Generator (VSG) technology, the Hinen A Series RESS enables seamless switching between grid-tied and off-grid modes. This technology stabilizes frequency and voltage through droop control and inertia, improving system performance and enabling weak-grid connection.Rapid Fault Detection: Built-in intelligent algorithms monitor grid status in real-time, accurately detecting power faults and responding almost instantly, ensuring user power safety.EPS Uninterruptible Power Supply: Even during complete power outages, EPS provides continuous power support within 10 milliseconds, ensuring critical equipment remains powered.

Commitment to Safety

To ensure absolute safety for users, the Hinen A Series RESS incorporates multiple safety mechanisms, including overcharge, deep discharge, and short-circuit protection. The system meets IP65 dustproof and waterproof standards and operates reliably in extreme temperature environments (-20°C to +60°C). The product is certified by CB, CE, UKCA, and other international authorities and offers a ten-year warranty, giving users peace of mind.

Building a Greener Energy Future Together

Hinen invites all professionals interested in clean energy development to visit booth 1B18 and discuss how we can build a more sustainable future together. We look forward to collaborating with like-minded enterprises and individuals to drive the green energy revolution in West Africa and beyond.

About Hinen

Hinen Group, listed since 2004 with stock code 300787, is recognized for its robust product capacity and technological prowess. Its subsidiary, Hinen New Energy, is devoted to crafting residential energy storage systems, boasting integrated inverter and battery R&D. With a dedication to promoting energy independence globally, Hinen has expanded its reach with branches worldwide, offering localized, expert services.

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Harbin Electric Celebrates Milestone with Fabrication of the World’s Largest Impulse Runner

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HARBIN, China, Jan. 3, 2025 /PRNewswire/ — On December 30, Harbin Electric Corporation (“Harbin Electric”), a global leader in power generation technology, achieved a significant milestone in hydropower technology with the successful welding and manufacturing of the world’s largest single-capacity and largest-sized impulse turbine runner. The engineering feat led to the launch of the globe’s first 500 MW single-capacity impulse hydroelectric generator set at the Zhala Hydropower Station. The achievement marks a major breakthrough in China’s research and development of high-head, large-capacity impulse hydropower units, positioning the country at the forefront of global innovation in this field.

The hydraulic turbine runner functions as the “heart” of the hydroelectric generator unit at the Zhala Hydropower Station, a critical component of Electricity Transmission of China’s Xizang project. It supplies the essential power for the unit to achieve a rated output of 500 megawatts. Under the direction of the project’s owner China Datang Corporation, Harbin Electric Machinery Company (“Machinery Company”) has independently developed the state-of-the-art impulse runner, boasting energy conversion efficiency that meets world-class standards. The runner is constructed with a forge-welded structure that includes one hub forging and 21 bucket forgings, resulting in a post-welding weight of 90.8 tons.

An impulse turbine is a type of hydraulic equipment that utilizes a pressure pipe to channel water flow onto an impulse runner for energy conversion. At the Zhala Hydropower Station, with a design head of 671 meters indicating a significant vertical drop and high pressure, the runner functions as a crucial load-bearing and flow-through component that directly impacts the efficiency of the hydropower unit. Throughout its operation, the runner withstands high-frequency dynamic pressures, which are critical to the unit’s stability and safety. Consequently, the welding and manufacturing requirements for the component are particularly stringent.

As the world’s largest single-capacity impulse turbine runner, this component’s hub forging boasts a diameter of 4.7 meters and a thickness of 1 meter, setting a world record for the largest martensitic stainless steel forging. The runner has a maximum outer diameter of 6.23 meters and a width of 1.34 meters, making it the largest impulse runner in the world. The manufacturing technologies for welding and processing, given the material, shape, and size, are at the forefront of their respective fields. Exploring these techniques involves numerous risk factors and uncertainties, presenting exceptionally high requirements and significant challenges in both welding and manufacturing.

To overcome the welding challenges associated with the manufacturing of the runner, the Machinery Company launched a technical initiative, employing digital simulation technology to investigate die forging techniques for large buckets. The company chose the highly efficient forging and welding manufacturing process due to its exceptional performance. Through 3D metrology and simulation calculations, the assembly and welding process was optimized by identifying the most effective welding parameters. The hub and buckets, crafted from martensitic stainless steel forgings, were joined using high-strength, resilient welds, significantly enhancing the runner’s impact toughness and fatigue resistance.

The Machinery Company formed a specialized runner welding technology team for the Zhala Hydropower Station to address the tough welding requirements of martensitic stainless steel and the intricate, curved structure of the ultra-thick bucket runner. The team performed detailed analysis and research on key welding manufacturing technologies, focusing on welding materials and processes, bucket positioning, welding station setup, welding distortion management and weld quality assurance. Through the process, the team developed a comprehensive suite of welding technology solutions, providing essential technical support for the efficient and high-quality fabrication of the 500 MW impulse runner.

By establishing the Zhala runner welding fabrication team, the Machinery Company deployed highly skilled and experienced welders and craftsmen to handle the welding tasks. At the same time, the company implemented lean management initiatives to ensure quality, maintain progress, and enhance efficiency. The cold work sub-factory, tasked with welding operations, played a crucial role in integrating production with technology. To enhance quality and efficiency, the sub-factory conducted extensive research and discussions on technological approaches and carried out multiple simulations, ensuring the seamless progression of the production process.

Despite the confined operating spaces between the buckets, members of the welding fabrication team effectively addressed several challenges, including high temperatures, the complexities of backhand welding, and the demanding task of cleaning between layers. They employed tungsten inert gas (TIG) welding for deep joints and metal active gas (MAG) welding for other positions, ensuring comprehensive, multi-layer quality control throughout the runner welding manufacturing process. After 107 days and a total of 1,712 hours of dedicated effort, the Machinery Company successfully navigated the challenges of welding the runner for the Zhala Hydropower Station, achieving a manufacturing milestone with the successful creation of the world’s first 500 MW impulse turbine runner.

Through the welding fabrication of the 500 MW runner, the Machinery Company effectively addressed the complex challenge of welding large, thick, low-carbon martensitic stainless steel forgings. The company successfully overcame the challenges of welding complex, curved, ultra-thick buckets, and mastered the critical technologies for manufacturing processes that reinforce surfaces with ultra-high bonding strength. The achievement marks a significant breakthrough in China’s manufacturing technology for electric power equipment. It also represents a key milestone for the Machinery Company in its quest to advance technological innovation, aligning with China’s strategy to accelerate the construction of hydropower facilities in Southwest China. In addition, this accomplishment sets a new benchmark in the sustainable development of the country’s energy equipment manufacturing industry.

The Zhala Hydropower Station, located in Zogong County, Chamdo within the Xizang Autonomous Region, serves as the focal point of the Southeast Xizang Clean Energy Integration Hub and is acknowledged as the world’s most challenging impulse hydropower project currently under construction. It features two 500 MW impulse hydropower units, which are the largest of their kind in terms of single capacity, power output, and technological sophistication. Recognized by the China National Energy Administration as a pioneering project in the country’s energy sector, the Zhala Hydropower Station distinguishes itself as China’s exclusive demonstration project for the development and application of the 500 MW high-head, large-capacity impulse hydropower unit.

The Machinery Company is a leader in China in the research and development of impulse hydropower units. Through decades of technological innovation, the company has perfected a unique design and manufacturing process for these units. Harbin Electric has developed and produced 67 impulse hydropower units for 30 power stations worldwide, including the Dongchuan Hydropower Project in China, the Minas plant in Ecuador, the San Gabá facility in Peru, and the Suki Kinari project in Pakistan. Through its involvement in these projects, the firm has gained expertise in advanced technologies for impulse hydropower units while accumulating extensive practical engineering experience in hydraulic development, model testing, structural design, as well as in the processing, manufacturing, transportation, installation and commissioning of key components.

 

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SOURCE Harbin Electric Corporation

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